Meet Rick Armalavage,
Valbridge CEO and President
March 18, 2013
Some people find their professional calling early in life. Richard (“Rick”) Armalavage was one of those people.
Guided by real estate and business professors at Indiana University who recognized his interests and analytical skills, Rick decided straight out of college to become an appraiser. In just a few years, he was so proficient he was designated an MAI by the Appraisal Institute, started his own business in Southwest Florida and never looked back.
Today, the chief executive officer, president and senior managing director of the new Valbridge Property Advisors cheerfully relates the story of one of his first appraisal assignments, which he’ll always remember.
He was an appraiser trainee, Rick recalls, which means you take whatever assignment you’re given and just get it done. In his case, the job found him literally standing in the Florida Everglades, up to his chest in mud, muck, alligators and probably a few snakes swimming around.
The assignment was for the National Park Service, which was intent to acquire and restore a number of subdivided residential lots in the park to their natural condition. Rick was appraising the land and structures, wrestling with the challenge of identifying comps for swamp property!
The analyst in him relished the task, and over the years he’s become an expert in the valuation and analysis of all commercial property types. So reliable are his opinions that he’s frequently called to testify in court as an expert witness.
“Detail and focus are the keys to producing appraisal reports that stand up to the highest level of scrutiny,” he says. “Identifying all the meaningful variables, sorting and weighing them … it’s all part of the valuation process.”
As the new CEO/president of Valbridge, Rick’s challenge is to help guide the firm as it establishes industry-leading systems and products, including a technology platform with strong productivity tools, and consistent appraisal reports, while leveraging the firm’s capacity to provide independent valuations with high quality assurance across the national market.
“At the end of the day, that’s why 42 firms have come together to form Valbridge, and that’s what will account for our success collectively, individually and on behalf of our clients. I’m excited to be a leader of such a great team of high-caliber professionals who genuinely care about the products they produce.”